CPE Course Implementing Topic 606: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard

November 13, 2019

8:30am — 4:15pm

Location Manchester

Member Price $279.00
Non-member Price $379.00

Curriculum Accounting & Audit

Field of Interest Accounting (General), Accounting and Auditing

Level Intermediate

Designed For

Practicing CPAs and their staffs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

8.00 credits

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Objective

Whether you are ready or not, the effective date of the new revenue recognition standard is right around the corner. The time to execute your implementation plan is now. Are you ready? In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, customer loyalty programs, other “material right” options, plus other transition issues such as the impact on income taxes and financial systems. As you sprint toward implementation, this course will help make sure that the wind stays at your back.

  • Apply the FASB’s new revenue recognition guidance found in ASC Topic 606    
  • Describe the FASB’s new five-step revenue recognition model    
  • Discuss the presentation and disclosure requirements in the new standard    
  • Utilize hands-on examples and illustrations to increase your overall understanding and application of the material    
  • Comprehend industry and issue specific guidance related to revenue recognition    
  • Identify operational implementation issues related to adopting the new standard

Highlights

  • ASC Topic 606, Revenue from Contracts with Customers    
  • The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance    
  • Presentation and disclosure requirements    
  • Recent ASUs that provide implementation guidance for the standard    
  • Industry specific implementation issues and guidance    
  • Identifying performance obligations    
  • Accounting for licenses    
  • Identifying a "material right" in an option    
  • Other operational issues related to implementation    
  • Feedback from public entity implementation of Topic
606

Instructors

Robert Bedwell, CPA

Robert P. Bedwell, CPA is an Audit and Advisory professional with over 36 years of audit and accounting experience. Bob regularly assists clients with a full range of corporate audit and assurance services, including financial statement preparation, auditing, SEC reporting, mergers, acquisitions, divestitures, due diligence, financing regulatory compliance, accounting system oversight, internal controls, IFRS conversions, Sarbanes-Oxley compliance advisory, and the independent review of external data.Bob has been a discussion leader on numerous topics for Surgent Professional Education, the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants, as well as for the firms for which he has worked, and has received high evaluations for his knowledge of topics and presentation skills. Bob received his Bachelor of Science in Accounting and Finance from Upsala College in East Orange, New Jersey, and has also earned a Masters in Accounting from Florida Atlantic University. Licensed as a Certified Public Accountant in Florida, Bob is a member of the Florida Institute of Certified Public Accountants (FICPA) and the American Institute of Certified Public Accountants. He has previously served as chairman of the FICPA Accounting Principles and Auditing Standards Committee.close

Prerequisites

Developer

Surgent McCoy CPE, LLC

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